Pearachute Shark Tank Update

Pearachute Shark Tank Pitch

Desiree Vargas Wrigley appeared on Shark Tank Season 9, Episode 7, which aired on October 29, 2017, with subscription service for parents to gain access to activities and classes for kids in their area.

Pearachute is listed in the Services category. In plain terms, the business is described as subscription service for parents to gain access to activities and classes for kids in their area.

Pearachute asked the Sharks for $500,000 for 6%, implying a valuation of about $8.3 million.

On the show, Pearachute made a listed deal with Mark Cuban for $500,000 for 15%.

If treated as straight equity, the listed deal works out to about $3.3 million implied valuation, down from the original $8.3 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

Pearachute After Shark Tank

Pearachute accepted an on-air Shark Tank deal for $500,000 for 15%. The business later shut down in June, 2022. (Pearachute Shark Tank Update

Between 2019 and 2020, the company raised a total 0f $3.1 million from five different venture capital firms to fuel growth. (Pearachute Shark Tank Update

In 2020, the pandemic forced the company to pivot to offering virtual experiences. (Pearachute Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches